Conde Nast preparing to launch Portfolio and Wired in England

John Reynolds of MediaWeek writes Tuesday that Conde Nast is working on launching its two business magazines, Conde Nast Portfolio and Wired, in the United Kingdom later this year.

Reynolds wrote, “However, should Condé Nast choose to do so, Portfolio will be launching into a challenging business magazine market. Last month, Press Holdings closed down business weekly The Business. The title had posted financial losses for some time and slumped to a circulation of just over 40,000 by last August.

“But Alan Brydon, head of press at MPG, believes Portfolio would stand a good chance of success in the UK. ‘Just because one title fails does not mean that this can’t succeed,’ he said. ‘If anybody can get it right, Condé Nast can.’

“Condé Nast’s US technology and internet title Wired, also priced at $5 (£2.50), is a full-colour monthly magazine that reports on how technology impacts on culture, the economy and politics. It was launched in the UK in 1995 by Wired Ventures, a company fronted by US journalist Louis Rossetto, but financial problems prompted its closure two years later. Condé Nast subsequently acquired the title.

“Paul Thomas, head of press at MindShare, believes Wired would need significant changes if it is to succeed in the UK.”

Read more here.